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HR 5487 110th Congress House

Affordable Homeownership Preservation Fund Act of 2008

Official title: To establish the Affordable Homeownership Preservation Fund of the Neighborhood Reinvestment Corporation.

Introduced: February 25, 2008 See on congress.gov
Housing and Community Development Affordable housingEconomics and Public FinanceFederal aid to housingForeclosure
More subjectsShow fewer subjects
Government Operations and PoliticsGovernment corporationsGovernment lendingGovernment trust fundsHome ownershipHousing financeMortgagesNeighborhood Reinvestment CorporationPlanningResidential rehabilitation
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2008
Referred to the House Committee on Financial Services.
Feb 25, 2008
Introduced in House
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 Latest action February 25, 2008

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Affordable Homeownership Preservation Fund Act of 2008 - Amends the Neighborhood Reinvestment Corporation Act to establish in the Treasury an Affordable Homeownership Preservation Fund to allow the Neighborhood Reinvestment Corporation, doing business as Neighborworks America, to provide financial assistance through grants to community development organizations for eligible activities to enhance and improve the availability of affordable housing.

Requires such eligible activities to be: (1) carried out in accordance with the comprehensive strategic plan for the organization submitted under this Act; and (2) consistent with existing economic, community, and housing development plans adopted by or applicable to the area or targeted population served by the organization.

Allows such activities to include: (1) assisting distressed homeowners with small low-interest or no-interest loans; (2) making mortgage loans to first-time homebuyers; and (3) purchasing, rehabilitating, and selling foreclosed properties for owner-occupancy.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Clarke, Yvette D.
New York · Feb 25, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5487: Affordable Homeownership Preservation Fund Act of 2008. 110th Congress. Open America. https://openamerica.io/bill/110-HR-5487/
MLA
"H.R. 5487: Affordable Homeownership Preservation Fund Act of 2008." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-5487/.
Bluebook (legal)
H.R. 5487, 110th Cong. (2026), https://openamerica.io/bill/110-HR-5487/.
Markdown link
[H.R. 5487: Affordable Homeownership Preservation Fund Act of 2008](https://openamerica.io/bill/110-HR-5487/)
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